Fintech and Corporate Bond Credit Spread
DOI:
https://doi.org/10.52152/3166Keywords:
fintech; credit spread; corporate bondsAbstract
The effective prevention of corporate bond defaults is an urgent issue to be addressed in the high-quality development of the bond market, while the emergence of fintech presents new opportunities for information transmission and credit supervision in this context, this paper explores the impact and mechanism of fintech on corporate bond credit indicate that local fintech development significantly reduces credit spreads in the secondary market for corporate bonds. Mechanism analysis reveals that higher levels of local fintech development enhance information transparency for enterprises, curbing default behavior and consequently reducing required credit risk compensation for bondholders. Heterogeneity analysis demonstrates that fintech development effectively mitigates credit risks arising from digital technology deficiencies, inadequate financial resource allocation capabilities, vulnerabilities in bonds, and weaknesses in bond issuance and sales quality. These research conclusions hold important theoretical and practical significance for effectively safeguarding creditor rights, as well as maintaining stability within the bond market amidst big data.
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